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Sport Events - Colombia

Colombia

Revenue in the Sport Events market is projected to reach €103.90m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 3.82%, resulting in a projected market volume of €120.70m by 2028.
In the Sport Events market, the number of users is expected to amount to 1.7m users by 2028.
User penetration will be 3.2% in 2024 and is expected to hit 3.3% by 2028.
The average revenue per user (ARPU) is expected to amount to €62.75.
In global comparison, most revenue will be generated in the United States (€15,230.00m in 2024).
With a projected rate of 17.1%, the user penetration in the Sport Events market is highest in Luxembourg.

Key regions: India, Brazil, Germany, South Korea, China

Marché

Région

Comparaison de régions

Monnaie

Analyst Opinion

The Sport Events market in Colombia is experiencing significant growth and development, driven by various factors including customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Sport Events market in Colombia are playing a crucial role in its development. The Colombian population has shown a strong interest in sports, with a particular focus on football (soccer). Football matches and tournaments attract large crowds and generate substantial revenue for the industry. Additionally, there is a growing interest in other sports such as cycling, athletics, and tennis, which further contribute to the expansion of the market. The preference for live sporting events and the desire to support local teams and athletes also drive the demand for sport events in Colombia. Trends in the market also contribute to the growth of the Sport Events industry in Colombia. One notable trend is the increasing popularity of international sporting events hosted in the country. Colombia has successfully hosted major events such as the FIFA U-20 World Cup and the Tour de France, attracting both local and international spectators. These events not only boost the tourism industry but also promote the country as a favorable destination for sports events. Furthermore, there is a rising trend of incorporating technology and innovation in sport events, such as live streaming, virtual reality experiences, and interactive fan engagement, which enhances the overall spectator experience and attracts a larger audience. Local special circumstances in Colombia also impact the development of the Sport Events market. The country's geographical location and diverse climate offer opportunities for a wide range of outdoor sporting events throughout the year. From beach volleyball tournaments on the Caribbean coast to mountain biking competitions in the Andes, Colombia provides a unique backdrop for various sports activities. Additionally, the government's support and investment in sports infrastructure, such as stadiums and training facilities, further contribute to the growth of the industry. Underlying macroeconomic factors also play a significant role in the development of the Sport Events market in Colombia. The country's improving economy and rising disposable income levels enable more people to participate in and attend sporting events. The growing middle class in Colombia has a higher propensity to spend on leisure activities, including sports events. Furthermore, the government's efforts to promote sports tourism and attract international sporting events have a positive impact on the industry, as they bring in foreign visitors and generate revenue for the local economy. In conclusion, the Sport Events market in Colombia is experiencing growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The strong interest in sports, the popularity of international events, the country's geographical advantages, and the improving economy all contribute to the expansion of the industry. With continued support and investment, the Sport Events market in Colombia is expected to thrive in the coming years.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on Gross Merchandise Value (GMV) and represent what consumers pay for these products and services. The user metrics show the number of customers who have made at least one online purchase within the past 12 months.

Modeling approach / Market size:

Market sizes are determined through a bottom-up approach, building on predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies, third-party studies and reports, as well as survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, GDP per capita, and internet connection speed. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing. The main drivers are internet users, urban population, usage of key players, and attitudes toward online services.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. GCS data is reweighted for representativeness.